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The following is a partial trial balance for the Green Star Corporation as of December 31, 2016: Debits Credits 1.500,000 37,000 57.000 Account Title Sales
The following is a partial trial balance for the Green Star Corporation as of December 31, 2016: Debits Credits 1.500,000 37,000 57.000 Account Title Sales revenue Interest revenue Gain on sale of investments Cost of goods sold Selling expenses General and administrative expenses Interest expense Income tax expense 760.000 195.000 82,000 47.000 137,000 100,000 shares of common stock were outstanding throughout 2016. Required: 1. Prepare a single-step income statement for 2016, including EPS disclosures. (Round EPS answer to 2 decimal places.) GREEN STAR CORPORATION Income Statement For the Year Ended December 31, 2016 Revenues and gains 0 Total revenues and gains Expenses and losses: 0 Total expenses and losses Income before income taxes 0 Earnings per share 2. Prepare a multiple-step income statement for 2016, including EPS disclosures. (Amounts to be deducted should be Indicated with a minus sign. Round EPS answer to 2 decimal places.) GREEN STAR CORPORATION Income Statement For the Year Ended December 31, 2016 Operating expenses Total operating expenses 0 0 Other income (expense): 0 Total other income, net Income before income taxes 0 Earnings per share
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